The development of the Dh100 billion hospitality and tourism project was expanded earlier this week with the signing ceremony between Bawadi, a member of Tatweer, and Zabeel Investments.

The two firms will develop the America Hotels & Resorts as part of the tourism project, according to Khaleej Times. America Hotels & Resorts will be one of the 31 thematic hotels currently under development at Bawadi.

Hosting New York's famous Broadway acts, the hospitality project will be of 3-star rating, and comprise 500 rooms, various international restaurant chains and a shopping boulevard modeled on New York's 5th Avenue.

Speaking of the future cooperation between the two bodies, Mohammed Ali Al Hashimi, Executive Chairman of Zabeel Investments said: "It is our privilege to be associated with Bawadi, a milestone project that has already notched a reputation as pioneers of creativity and innovation. This is our biggest venture in the hospitality sector yet, we hope to meet and exceed expectations by developing this unique resort as the ultimate destination within Bawadi."

The signing ceremony took place at Tatweer offices at the Emirates Towers between Arif Mubarak, CEO of Bawadi and Mohammed Ali Al Hashimi, Executive Chairman of Zabeel Investments.